DOCSLIB.ORG

An Introduction to Investec

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
An Introduction to Investec An introduction to Investec The information in this presentation relates to the year ending 31 March 2017, unless otherwise indicated. An overview of the Investec Group Investec: a distinctive specialist bank and asset manager Facilitating the creation of wealth and management of wealth • Established in 1974 • Today, efficient integrated international business platform employing approximately 9 700 people • Listed on the JSE and LSE (a FTSE 250 company) • Total assets of £53.5bn^; total equity*^ £4.8bn; total FUM £150.7bn^ Distribution channels Origination channels Core infrastructure Since 1992 Assets: £18.7bn Since 1974 Assets: £38.8bn *Including preference shares and non-controlling interests. 3 ^At 31 March 2017. Balanced business model supporting our long-term strategy Three distinct business activities focused on well defined target clients Corporate / Institutional / Government Private client (high net worth / high income) / charities / trusts Asset Management Specialist BankingSpecialist Banking WealthWealth & Investment& Investment (operating completely independently) Provides a broad range of services: Provides investment Provides investment Provides a broad range of services: Provides investment management services and management services • Lending management services and • Lending independent financial independent financial planning • Transactional• Transactional banking banking planning advice advice • Deposit raising• Treasury activities and trading • Treasury and trading • Advisory • Advisory • Investment• Investmentactivities activities Maintaining an appropriate balance between revenue streams Capital light activities Capital intensive activities • Asset management • Lending portfolios 56% • Wealth management 44% • Investment portfolios • Advisory services • Trading income • Transactional banking services . client flows Contributed to Contributed to • Property and other funds . balance sheet management group income* group income* Fee and commission incomeTypes of income Net interest, investment and trading income *At 31 March 2017.. 4 Solid recurring income base supported by a diversified portfolio Across businesses % contribution to operating profit before tax* 100% 90% 80% 70% Specialist 60% Banking 50% Wealth & Investment 40% Across geographies 30% Asset Management 20% % contribution to operating profit before tax* 10% 100% 0% 90% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 80% Overall contribution from Asset Management and W&I UK and Other 70% 2017: 40% 2016: 40% 2015: 43% 2014: 46% 2013: 45% 2012: 48% 60% Southern Africa 50% 40% 30% 20% 10% 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 *Before goodwill, acquired intangibles, non-operating items, group costs and after other non-controlling interests. 5 We have a distinctive investment offering • Clients are at the core of our • Serving select market niches business as a focused provider of tailored structured solutions • Building business depth by deepening existing client • Enhancing our existing relationships position in principal Specialised businesses and geographies • High level of service by strategy and through organic growth and being nimble, flexible and Client select bolt-on acquisitions innovative uniquely focused positioned business model • Contributing to society, • Strong, entrepreneurial macro-economic stability Sustainable culture that stimulates and the environment business and Strong extraordinary performance • Well established brand long-term culture • Passionate and talented people who are empowered • Managing and positioning the strategy and committed group for the long term • Depth of leadership • Balancing operational risk with financial risk while • Stable management team creating value for • Strong risk awareness shareholders • Employee ownership • Cost and risk conscious Resulting in a quality scalable global business … a quality scalable global business 6 We continue to have a sound balance sheet Key operating fundamentals Cash and near cash • Senior management “hands-on” culture • A high level of readily available, high quality liquid assets – representing approx 25% - 35% of our liability base. Balance as at 31 March 2017 was £12.0bn Average • No reliance on wholesale funding • Healthy capital ratios - always held capital in excess of regulatory requirements and the group intends to perpetuate this philosophy. Target common equity tier 1 ratio of above 10% and total capital ratios of 14%-17% • Low gearing ratio – approx. 10 times; with leverage ratios in excess of 7% • Geographical and operational diversity with a high level of recurring income continues to support sustainability of Low gearing ratios operating profit times 16 13.8 14 13.0 12.5 11.6 12 11.3 11.3 10.3 10.2 10.1 9.4 10 8 6.2 5.8 5.4 6 4.7 4.5 4.7 4.3 4.3 4.7 4.7 4 2 0 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar 16 Mar 17 Gearing ratio (assets excluding assurance assets to total equity) Core loans to equity ratio 7 We have a sound track record Recurring income Revenue versus expenses £’mn £’mn 2500 80% 2,500 2000 2,000 60% 1500 1,500 40% 1000 1,000 20% 500 500 0 0% - 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Trading income Investment income Other fees and other operating income Annuity fees and commissions Total revenue Expenses Net interest income Annuity income* as a % of total income Operating profit before tax** and impairments Adjusted EPS^ £’mn pence 800 60 700 50 600 40 500 400 30 300 20 200 10 100 - 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Operating profit before tax and impairments** Operating profit before tax** *Where annuity income is net interest income and annuity fees. 8 **Before goodwill, acquired intangibles, non-operating items and after other non-controlling interests. ^Where Adjusted EPS is earnings per share before goodwill, acquired intangibles and non-operating items. We have a sound track record Third party assets under management Core loans and advances and deposits £’bn Net inflows of £0.7bn for the year to March 2017 £’bn Deposits: an increase of 5.5% on a currency neutral basis 160 35 Core loans: an increase of 7.6% on a currency neutral basis 120% 140 30 100% 120 25 80% 100 20 80 60% 15 60 40% 40 10 20 5 20% - - 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Customer accounts (LHS) Asset Management Wealth & Investment Other Core loans and advances to customers (LHS) Loans and advances to customer deposits (RHS) Total shareholders’ equity and capital resources Net tangible asset value £’mn pence £’mn 7,000 600 4,000 6,000 3,500 500 5,000 3,000 400 4,000 2,500 300 2,000 3,000 1,500 2,000 200 1,000 100 1,000 500 - - - 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total shareholders’ equity (including preference shares and non-controlling Net tangible asset value (excluding goodwill) (£'mn) (RHS) interests) Net tangible asset value per share (excluding goodwill) (pence) (LHS) Total capital resources (including subordinated liabilities) Share price (pence) (LHS) Results are shown for the year-ended 31 March, unless otherwise indicated. 9 Currency neutral basis: calculation assumes that the closing exchange rates of the group’s relevant exchange rates remain the same as at 31 March 2017 when compared to 31 March 2016. We have invested in our Brand …our Communities …our People … and the Planet 10 Summary of year end results – salient financial features Year to Year to Investec group consolidated results in Pounds Sterling 31 Mar 2017 31 Mar 2016 % change** Income statement Adjusted earnings attributable to ordinary shareholders before goodwill, acquired intangibles and non-operating items (£'000) 434,504 359,732 20.8% Operating profit* (£'000) 599,121 505,593 18.5% Balance sheet Total capital resources (including subordinated liabilities) (£'million) 6,211 4,994 24.4% Total shareholders' equity (including preference shares and non-controlling interests (£'million) 4,809 3,859 24.6% Total assets (£'million) 53,535 45,352 18.0% Net core loans and advances to customers (including own originated securitised assets) (£'million) 22,707 18,119 25.3% Cash and near cash balances (£'million) 12,038 10,962 9.8% Customer accounts (deposits) (£'million) 29,109 24,044 21.1% Third party assets under management (£'million) 150,735 121,683 23.9% Capital adequacy ratio: Investec plc 15.1% 15.1% Capital adequacy tier 1 ratio: Investec plc 11.3% 10.7% Capital adequacy ratio: Investec Limited 14.2% 14.0% Capital adequacy tier 1 ratio: Investec Limited 10.8% 10.7% Credit loss ratio (core income statement impairment charge as a % of average gross core loans and advances) 0.54% 0.62% Defaults (net of impairments and before collateral) as a % of net core loans and advances to customers 1.22% 1.54% Gearing ratio (assets excluding assurance assets to total equity) 10.1x 10.2x Core loans to equity ratio 4.7x 4.7x Loans and advances to customers as a % of customer deposits 76.2% 73.6% Selected ratios and other information Adjusted earnings per share^ (pence) 48.3 41.3 16.9% Net tangible asset value per share (pence) 377.0 294.3 28.1% Dividends per share (pence) 23.0 21.0 9.5% Cost to income ratio 66.3% 66.4% Return on average adjusted shareholders' equity (post tax) 12.5% 11.5% Return on average adjusted tangible shareholders' equity (post tax) 14.5% 13.7% Return on risk-weighted assets 1.45% 1.34% Recurring income as a % of operating income 72.0% 71.7% Weighted number of ordinary shares in issues (million) 900.4 870.5 3.4% Total number of shares in issue (million) 958.3 908.8 5.4% Closing share price (pence) 544 513 6.0% Market capitalisation (£'million) 5,213 4,662 11.8% Number of employees in the group (including temps and contractors) 9,716 8,966 8.4% Closing ZAR: £ exchange rate 16.77 21.13 20.6% Average ZAR: £ exchange rate 18.42 20.72 11.1% *Before goodwill, acquired intangibles, non-operating items, taxation and after other non-controlling interests.
Load more

Recommended publications
  • Transformation in Banking Report 2019
    February 2020 TRANSFORMATION in banking 2016 - 2018 Contents 1. Foreword 2 2. Highlights 3 3. Introduction 4 4. Methodology 5 5. Data and analysis 6 About this report Ownership 7 This report is produced by Intellidex (Pty) Ltd Management 8 1st Floor, Building 3 Skills development 12 Inanda Greens Office Park 54 Wierda Road West Socioeconomic development 14 Sandton South Africa Procurement 14 Email: [email protected] Consumer education 15 Web: www.intellidex.co.za Tel: +27 (0)10 072 0472 Empowerment financing 17 Disclaimer Intellidex was commissioned by the Banking While Intellidex believes all information in this report to be accurate, Intellidex makes no representations Transformational infrastructure 17 Association South Africa (BASA) to produce or warranties regarding the completeness, accuracy this report from data supplied from member or reliability of any information, facts, estimates, forecasts or opinions contained in this document. The Black agricultural financing 18 banks. information and opinions could change at any time without prior notice. Intellidex, its directors, officers, The report reflects transformation in the staff, agents or associates shall have no liability for Black SME financing 18 any loss or damage of any nature arising from the use banking industry and its progress towards of this document. achieving the targets set out in the Financial Affordable housing 19 Sector Code. Copyright Supplier development contribution 20 ©2020. This document is copyrighted to the Banking The publication serves as a report to society Association South Africa. It may be distributed in on the contribution of the banking industry this form without prior permission, but prior written B-BBEE transaction financing 20 permission must be obtained before using the to the development of the country, and content in another form.
    [Show full text]
  • Fitch Places 31 EMEA Bank ST Issuer Ratings Under Criteria Observation
    5/7/2019 [ Press Release ] Fitch Places 31 EMEA Bank ST Issuer Ratings Under Criteria Observation Fitch Places 31 EMEA Bank ST Issuer Ratings Under Criteria Observation Fitch Ratings-London-07 May 2019: Fitch Ratings has placed 31 Short-Term (ST) Issuer Default Ratings (IDR) and related ST debt level ratings of EMEA-based banks Under Criteria Observation (UCO) following the publication of its cross-sector criteria for Short-Term Ratings on 2 May 2019. A full list of rating actions is below. Fitch intends to conclude full implementation of the criteria, and resolution of all UCO designations within six months of the designation. KEY RATING DRIVERS The ST ratings of the affected banks are determined primarily by correspondence tables linking short-term to long-term ratings. The new ST rating criteria introduced changes to our correspondence table between long-term and ST ratings. Two new cusp points at 'A' and 'BBB+' have been added to the existing three cusp points ('A+', 'A-' and 'BBB'), where baseline or higher ST ratings can be assigned. For banks with Long-Term IDRs driven by their standalone profile, as reflected by their Viability Ratings (VR), Fitch uses the funding and liquidity factor score as the principal determinant of whether the 'baseline' or 'higher' ST IDR is assigned at each cusp point. The ST IDRs and, where relevant, associated ST debt/deposit ratings of the following issuers have been placed UCO because the ratings could be upgraded by one notch under the new criteria. This is because the latest funding and liquidity scores that feed into their VRs are at least in line with the minimum levels required for a higher ST rating under the new criteria: - Banco Cooperativo Espanol, S.A.
    [Show full text]
  • Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
    Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT
    [Show full text]
  • Corporate Banking at Investec
    Corporate Banking at Investec A unique Corporate At Investec, our clients share an appetite for our people remain invested in our clients’ growth and the need for the right banking long-term success. Banking offering partner to support them on their journey. We pride ourselves on our agility, speed, Founded in 1974, Investec has grown exceptional service and refreshingly human successfully through its client-focused approach. We offer deep expertise across approach and its ability to serve diverse lending, advisory and treasury risk and evolving financial needs. management, which means our clients benefit from our unique breadth of services We believe that not all businesses are the across corporate and investment banking. same and as such their journeys are different. So, wherever our clients are on their journey, That’s why we tailor solutions to our clients’ we believe that we have solutions to help needs, taking the time to fully understand their them achieve their ambitions. requirements and challenges while ensuring A comprehensive range of services that support client growth Working capital – invoice Treasury risk solutions – foreign Asset and vehicle finance discounting, asset-based exchange, interest rates and lending and supplier finance commodity price hedging Lending – growth capital, Advice and ideas – Cash products – a range of acquisition and leverage finance, mergers & acquisitions call, notice and fixed deposits integrated asset-based & cash and equity advisory flow lending and structured lending Solutions. Capital. Empowered people. Our clients Our business in numbers • SMEs and corporates • Private equity • Intermediaries and introducers £3.9 bn c.150,000 assets financed* asset finance deals* c.61,000 £530m SMEs supported* receivables purchased** *From 1 April 2014 to 31 March 2019.
    [Show full text]
  • Investec/Lowes 8:8 Plan 3
    Structured Products Investec/Lowes 8:8 Plan 3 Potential for maturity every 6 months from the end of year 2 onwards, with a fixed payment equal to 7.5% per annum (not compounded). If the Plan runs until the Final Maturity Date and the FTSE 100 finishes lower than 60% of its starting level, you will lose some or all of your initial investment. Limited offer ends: 18 June 2018. oducts & Pr D d er re iv u a t t c iv u e r t s S A e w p a o EIGHT TIMES r r d u s E 2 0 h t 1 5 8 1 SRP AWARDS Award 2010 -2017 Best Distributor, UK & Ireland Investec Investec/Lowes 8:8 Plan 3 This Plan has been jointly developed by Investec Bank plc and Lowes Financial Management Ltd. Investec Bank plc is the Plan Manager and Product Manufacturer of this Plan. About Investec This brochure has been prepared by Investec Structured Products which is a trading name of Investec Bank plc, which is part of the Investec group of companies. Investec (comprising Investec Limited and Investec plc) is an international specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the UK and Europe, South Africa and Asia/Australia as well as certain other countries. The group was established in 1974 and currently has approximately 9,900 employees. Investec focuses on delivering distinctive profitable solutions for its clients in three core areas of activity namely, Asset Management, Wealth & Investment and Specialist Banking.
    [Show full text]
  • An Introduction to Our Wealth & Investment Services
    An introduction to our Wealth & Investment services Welcome I am delighted to have the opportunity to introduce Investec Wealth & Investment to you. We would like to give you a snapshot of our business so that you have a better feel for who we are and what we do. I hope that, as you read through these pages, two features will become very apparent. Namely, that our business is fundamentally about people and service. Our job is to offer you, as a client or a potential client, a service of the highest possible standard delivered by high calibre people with expertise and integrity. It is as simple as that. At the back of the brochure you will find various contact details if you would like further information. Please do not hesitate to get in touch. Eddie Clarke Head of Investec Wealth & Investment Ireland 3 A snapshot of our business “Our wide-ranging We look after clients’ savings, expertise, and combination pensions and other financial assets, by using our expertise of local presence and and knowledge to invest global resources are their money wisely to build at your service.” and preserve their wealth. What we do at the same time, offering more resource, Bobby Hassett depth of expertise and robust systems compared Investment Management Investec Wealth & Investment provides Investment with other firms. Management services and Financial Planning advice to private clients, pensions, corporates, Our approach allows us the freedom to build charities, family offices and credit unions. investment portfolios appropriate for the needs of each individual client, without any inbuilt bias. Who we are Experience counts Investec Wealth & Investment in Ireland arose from the acquisition of NCB Wealth Management Investec Wealth & Investment is ideally positioned in 2012, which had been advising Irish clients for to help our clients meet their long-term investment 30 years.
    [Show full text]
  • The Study of the Emergence of Entry-Level Bank Branches in South Africa
    The Study of the Emergence of Entry-level Bank Branches in South Africa Final Report July 2013 The Study of the Emergence of Low Cost Bank Branches in South Africa Date: 2013/06/21 Contact Information Genesis Analytics (Pty) Ltd Office 3, 50 Sixth Road Hyde Park, 2196, Johannesburg South Africa Post to: PO Box 413431, Craighall, 2024 Johannesburg, South Africa Tel: +2711 994 7000 Fax: +2711 994 7099 www.genesis-analytics.com Authors Darrel Orsmond Kalila Mackenzie Tholoana Mokoena Craig van Rensburg www.genesis-analytics.com Covering Letter / Forward The Centre for Financial Regulation & Inclusion The Vineyards Office Estate Farm Farm 2, Regent House 99 Jip de Jager Drive Belville Cape Town South Africa 7530 Attention: Mia Thom Dear Mia, It is with great pleasure that we send to you the final report on the emergence of low-cost bank branches in South Africa. Sincerely Genesis-Analytics Team Table of Contents EXECUTIVE SUMMARY ................................................................................ I 1. INTRODUCTION ...................................................................................... I 2. THE SHIFTING BANKING LANDSCAPE ............................................... II 3. ENTRY-LEVEL BANKING STRATEGIES ............................................. III 4. EMERGING TRENDS ............................................................................. IV 5. KEY FINDINGS: COMMON ELEMENTS OF AN ENTRY-LEVEL BANKING STRATEGY ........................................................................... VI 6. CONSIDERATIONS
    [Show full text]
  • FTSE Factsheet
    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Arbuthnot Banking Group ARBB Banks — GBP 10.025 at close 18 June 2021 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 18-Jun-2021 18-Jun-2021 18-Jun-2021 12 120 130 1D WTD MTD YTD Absolute 0.2 5.0 -4.1 28.9 11 110 120 Rel.Sector 3.1 8.1 2.0 10.9 Rel.Market 2.0 6.7 -3.7 18.4 10 100 110 VALUATION 9 90 100 Trailing Relative Price Relative Price Relative 8 80 90 PE -ve Absolute Price (local (local currency) AbsolutePrice EV/EBITDA - 7 70 80 PB 0.8 PCF -ve 6 60 70 Div Yield 0.0 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Price/Sales 1.7 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 1.5 100 100 100 Div Payout 0.0 90 90 90 ROE -ve 80 80 80 70 70 Index) Share 70 Share Sector) Share - - 60 60 60 DESCRIPTION 50 50 50 The Company is a banking and financial services 40 40 40 RSI RSI (Absolute) group. It operates through two divisions, personal 30 30 30 financial services and private and merchant banking.
    [Show full text]
  • A STRATEGIC ANALYSIS of CAPITEC BANK LIMITED WITHIN the SOUTH AFRICAN BANKING INDUSTRY by Michael Coenraad De Lange
    A STRATEGIC ANALYSIS OF CAPITEC BANK LIMITED WITHIN THE SOUTH AFRICAN BANKING INDUSTRY By Michael Coenraad de Lange Submitted in partial fulfilment of the requirements for the degree of MAGISTER IN BUSINESS ADMINISTRATION at the Nelson Mandela Metropolitan University Business School Research Supervisor: Prof JA Jonker November 2013 DECLARATION I hereby declare that the above-mentioned treatise is my own work and that it has not previously been submitted for assessment to another University or for another qualification. I further declare that I followed all the applicable ethical guidelines in the conducting the research. Signed: Michael de Lange Date: November 2013 i ACKNOWLEDGEMENTS This research study would not have been possible to complete without the valuable contributions and support of the following people: To my research supervisor, Professor Kobus Jonker, for his dedication, support and professional advice in helping me complete this study; To my girlfriend Jess, for all her understanding and willingness, her support, undying love and dedication in helping me throughout the duration of my MBA; To my family, for believing in me and providing the necessary support and for raising me to be a dedicated and disciplined individual in order to reach my goals and complete this research study. DEDICATION This research treatise is dedicated to my late father who tragically passed away last year. He was an inspiration to us all and my hero. Gone but never forgotten. Thank you Dad. ii ABSTRACT The South African banking industry is well regulated and oligopolistic by nature. The financial sector in South Africa is of a world class standard, comparing favourably to that of developed economies i.e.
    [Show full text]
  • Financial Cooperatives Indaba 2012”
    “Financial Cooperatives Indaba 2012” Fikile Kuhlase, Senior GM, Socio-Economic Growth and Development The Banking Association South Africa Durban – 19 October 2012 SETTING THE SCENE… 2 “A journey of a thousand miles begins with a single step”. (Lao-tzu) The Banking Association SA - not-for-profit voluntary industry body representing all registered banks operating in SA - currently has 34 member banks. VOICE of the industry. Role of banks is financial intermediation – facilitating the flow of funds from savers to borrowers. Financial Intermediation – process performed by banks of taking in depositor funds and on-lending to borrowers. SA rated 2nd in soundness of banking system after Canada. “Big 4”: ABSA, FirstRand, Nedbank, Standard Bank – 85% of total banking assets Continuum of financial institutions for diversification, depth and reach SA Financial sector comprises of R6trillion in assets; 10.5% of GDP. Misnomer that banking is amongst most hated professions Exploring expected role of banking industry in coop. banking (Kenya study tour etc.) ROLE & GOVERNANCE STRUCTURE… 3 Broad role of The Banking Association SA is to establish and maintain the best possible platform on which banks can do progressive, responsible, competitive, profitable and sustainable banking. Main Board – CEOs of ‘Big 4’ ABSA, FirstRand, Nedbank, Standard Bank and Investec. 2 Intl. Bank reps. – Citi and Standard Chartered, 2 Independent banks – African Bank and Ubank . Board Exco – EXCO – MANCO MD, 4 Divisions - Banking & Financial Services, Socio-Economic Growth & Development, Strategy & Stakeholder Management and Shared Services. SEGD – Financial Inclusion, Financial Literacy, SME Development, CSI and Draft Financial Sector Code for transformation. SADC BA Role of the banking industry in the real economy – poverty alleviation, job creation etc.
    [Show full text]
  • “Bank Stability in South Africa: What Matters?”
    “Bank stability in South Africa: what matters?” Syden Mishi https://orcid.org/0000-0002-7727-8946 AUTHORS Sibanisezwe Alwyn Khumalo https://orcid.org/0000-0002-4330-9249 Syden Mishi and Sibanisezwe Alwyn Khumalo (2019). Bank stability in South ARTICLE INFO Africa: what matters?. Banks and Bank Systems, 14(1), 122-136. doi:10.21511/bbs.14(1).2019.11 DOI http://dx.doi.org/10.21511/bbs.14(1).2019.11 RELEASED ON Wednesday, 27 February 2019 RECEIVED ON Monday, 02 July 2018 ACCEPTED ON Monday, 21 January 2019 LICENSE This work is licensed under a Creative Commons Attribution 4.0 International License JOURNAL "Banks and Bank Systems" ISSN PRINT 1816-7403 ISSN ONLINE 1991-7074 PUBLISHER LLC “Consulting Publishing Company “Business Perspectives” FOUNDER LLC “Consulting Publishing Company “Business Perspectives” NUMBER OF REFERENCES NUMBER OF FIGURES NUMBER OF TABLES 75 4 3 © The author(s) 2021. This publication is an open access article. businessperspectives.org Banks and Bank Systems, Volume 14, Issue 1, 2019 Syden Mishi (South Africa), Sibanisezwe Alwyn Khumalo (South Africa) Bank stability in South Africa: what matters? BUSINESS PERSPECTIVES Abstract The study examined the determinants of bank stability within the South African bank- ing sector. By controlling for individual bank characteristics and market characteris- tics, the study determined possible determinants of solvency, a proxy for bank stabil- ity, measured by z-score within the South African financial sector. The South African LLC “СPС “Business Perspectives” financial sector is highly concentrated but with a significantly large number of banks, Hryhorii Skovoroda lane, 10, Sumy, the greater portion being foreign owned banks.
    [Show full text]
  • Global Finance Names the World's Best Investment Banks 2020
    Global Finance Names The World’s Best Investment Banks 2020 NEW YORK, February 10, 2020 – Global Finance magazine has named the 21st annual World’s Best Investment Banks in an exclusive survey to be published in the April 2020 issue. Winning organizations will be honored at an awards ceremony on the evening of March 26 at Sea Containers London. J.P. Morgan was honored as the Best Investment Bank in the world for 2020. About Global Finance “Investment banking is a critical factor driving global growth. Global Finance’s Best Global Finance, founded in Investment Bank awards identify the financial institutions that deliver innovative and 1987, has a circulation of practical solutions for their clients in all kinds of markets,” said Joseph D. Giarraputo, 50,000 and readers in 188 publisher and editorial director of Global Finance. countries. Global Finance’s audience includes senior Global Finance editors, with input from industry experts, used a series of criteria— corporate and financial including entries from banks, market share, number and size of deals, service and officers responsible for making investment and strategic advice, structuring capabilities, distribution network, efforts to address market decisions at multinational conditions, innovation, pricing, after-market performance of underwritings and companies and financial market reputation—to score and select winners, based on a proprietary algorithm. institutions. Its website — Deals announced or completed in 2019 were considered. GFMag.com — offers analysis and articles that are the legacy For editorial information please contact Andrea Fiano, editor: [email protected] of 33 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world.
    [Show full text]